Research in Motion trims jobs to save $1 billion this year

The once mighty Research in Motion (RIM) continues a downward spiral, this week announcing further layoffs as part of its effort to save $1 billion in 2012 alone and buy more time ahead of its BlackBerry 10 software and devices coming later this year.

The Waterloo, Ontario-based tech giant has been shedding executives in recent weeks, trimming the company's head count to 16,500 employees as of last month.

According to a report published Wednesday, RIM claims to have "reduced some positions as part of its program and may continue to do so as the company methodically works through a review of the business."

RIM in decline

RIM declined to elaborate further on where the job losses will fall, claiming those details will be forthcoming on June 28, when the company announces its quarterly financials.

However, Jeffries analyst Peter Misek claims RIM may slash upwards of 6,000 jobs, most of them tied to the company's aging software and device manufacturing.

While that may sound like a lot of pink slips, onetime competitor Nokia is in even more dire straits, announcing up to 10,000 positions being eliminated over the next 18 months.